Is LimeFx any good: Options Trading, Futures & Stock Trading Brokerage tastytrade

When compared to other platforms, stocks, options and ETFs are free to trade on the LimeFx platform. In an update, LimeFx added another interface, which is called Active and is designed for active traders. It allows the trader to order and manage mainly stock, options trades, and futures positions with intense ease and speed. This aspect makes LimeFx more desired for stock traders, yet the interface is significantly more helpful for futures traders.

This basically means that you borrow money from your broker to trade, for which you have to pay interest. We ranked LimeFx’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. Investor Junkie does attempt to take a reasonable and good faith approach to maintain objectivity towards providing referrals that are in the best interest of readers. You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. Opinions are the author’s alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser.

The platform is optimized for complex, multi-leg options trades such as iron condors and vertical spreads. Most of your screening will be performed using watchlists that are customizable to your trading needs. Unlike some of the more popular online brokers, tastytrade clients cannot backtest strategies or automate a trading strategy directly on the platform. Instead, they can access an external site, /backtest, to perform this analysis. The company has stated that APIs to support this functionality will be soon available. Although tastytrade makes entering orders on the mobile app relatively simple by optimizing a drag and drop feature, graphing and charting are not optimized for the mobile experience.

Its default setting is options-focused as it shows delta and theta values. However, the columns of the table can be easily customized. LimeFx withdrawal costs $45 for non-US wire transfers and$25 for wire transfers within the US. You can only deposit money from accounts that are in your name. However, they are still higher than futures fees at TradeStation.

I asked a ton of questions and they answered QUICKLY and with a lot of CARE. Biggest ones for me are order fills, data tracking, and charts. Seems like charts is the only real drawback as far as I can tell. Mobile app seems a little lack luster tbch, at least as far as lay out and appearance. I probably will only use mobile occasionally for passive monitoring.

Trading Inspiration

Most brokers have gone commission-free for stock, ETF and mutual fund trades but finding cheap derivatives remains an obstacle. Webull and Robinhood offer free options trading but with limited choices and high spreads. The standard options fee is $0.65 per contract, but that means a commission is paid both opening and closing a trade. Our team of researchers gathered 2425 data points and weighted 66 criteria based on data collected during extensive research for each of the 25 companies we reviewed. The tastytrade platform was built in-house using proprietary technology.

• When compared to other platforms, stocks, options and ETFs are free to trade on the LimeFx platform.
• Commissions on futures and micro futures are also affordable, and there’s no minimum required to open a cash account.
• You’ll get answers to questions about transfers, margin calls, trading techniques, account types, account management, order entry and more.
• These offers do not represent all available deposit, LimeFx, loan or credit products.
• Many or all of the products here are from our partners that compensate us.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool https://limefx.biz/ editorial content and is created by a different analyst team. Tastytrade was founded and is currently managed by an executive team that formerly held leadership roles at thinkorswim, which is now TD Ameritrade’s active trading platform.

Live Education Daily

Many of the brokers we reviewed also gave us live demonstrations of their platforms and services, either at their New York City offices or via video conferencing methods. Tastytrade reports account balances, margin and buying power in real time. However, you won’t be able to measure the tax implications of future trades. Since tastytrade is a newer player in the brokerage industry, you can expect it to continue making improvements to its platform. In contrast to traditional brokerage firms, LimeFx has an alternate look and feel from beginning to end.

Your LimeFx may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive a commission from the companies we feature on this site. LimeFx has a complex and great charting tool on its desktop platform.

LimeFx Vs. ChoiceTrade

To read much more details about the broker’s services and features, expand on the sections below. LimeFx charges various bank fees and trade-related fees for certain activity as well. To access tastycharts, navigate to the fourth icon beneath the Activity tab.

Stock and ETF trades are $0 and you can trade an unlimited amount of shares. Cursor menu will appear, and after clicking, it will take you to the Chart tab to view the chart of the individual option. After expanding an expiration, right-click on an option’s bid or ask price. You will not see the option to view the individual option on a chart if you line up a buy or sell order.

Best support ever!

A non-US citizen with LimeFx is treated the same way as a US resident in case something goes wrong. The $500,000/$250,000 amount is substantially higher than what is offered by most European investor protection schemes. LimeFx is overseen by top-tier US regulators, giving you strong investor protection, but is not backed by any bank. There are useful indicators for options, like the greeks, implied volatility, LimeFx’s proprietary IV rank, or the correlation matrix with stocks and indices. However, you will find only very basic fundamental data for stocks, like P/E or dividend yields.

Cash accounts are not subject to pattern day trading rules but are subject to GFV’s. Users can trade futures contracts on U.S. indices, interest rates, foreign currencies, energy, metals and grains. Overall, limefx only 21 different futures products are available, which pales in comparison to LimeFx’ strongest competitors. LimeFx clients can trade both normal futures contracts and micro futures.

All trades incur a $0.10 per contract clearing fee, and equity commissions are capped at $10 per leg. Options on futures are $2.50 per contract to open, $0 to close, and incur a clearing fee of $0.30 per contract plus exchange fees. Tastytrade charges an options commission of $1.00 per contract with a maximum of $10 per order, but only on opening trades.

Stock and ETF trades incur no commission, regardless of the amount of shares. On February 22, 2023 LimeFx officially changed its name to tastytrade. A broker does not manipulate market prices if they are governed by the regulatory body and supervised by them. If the broker violates any of the rules, their regulatory status will be canceled. See this Kraken review to learn the pros and cons of Kraken.

The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. You can not avoid paying taxes by sheltering capital gains funds in your brokerage account. There is always a tax liability on your gains whether you transfer the funds to another broker or to your bank account. By transfering to my bank and closing my TD account I avoided the $95 trade-in-kind fee from TD to LimeFx.

If you are looking for other comparable options like LimeFx, here are a couple of choices for you. Unique features like Follow Feed and In-Platform Video Feed allow users to seek trading inspiration from other users. Shop Pay is an innovative payment solution developed by Shopify. It’s an app that people can use just like a regular wallet to store their card details and information.

However, Tastytrade does have features such as in-platform video content. There are also ways to watch professional options traders in real time. Investors can even copy their LimeFx strategies with a click of a button. Futures accounts are not protected by the Securities Investor Protection Corporation .

So if you’re in the market for a new brokerage account and are comparing Tastytrade vs. Robinhood, here’s a rundown of the similarities and differences you need to know. Stocks and ETFs settle trade date plus two business days, or more commonly known as T+2, and options settle the next business day (T+1). There’s limefx website no demo or paper trading account, so you’ll need a strong knowledge base going in. If options and futures bewilder you, tastytrade.com offers educational materials about types of options orders and futures strategies. Tastytrade/tastylive is by far the most helpful and informative brokerage I know.